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Setting up Bank Accounts

Generally to buy and sell shares that are traded on ASX you will need to have an account with a broker, nominate a bank account and authorise the broker to make automatic withdrawals to settle purchases. Your broker will automatically deposit the net proceeds of sales of shares.

You will need to make an initial deposit to a new bank account as cleared funds are a pre-requisite to trading. Once you know the bank account number, deposits can generally be made by cheque, electronic funds transfer, telegraphic transfer or BPAY.

Bank account details can be viewed online, so you always know your daily balance and have a record of your transactions. You may have dividends paid into the account and also make regular payments into the account if you wish.

Funds held in these accounts generally attract a competitive cash management interest rate.

Thank you for the wonderful service you provide through your website. I've had the pleasure of selling a parcel of shares: easy, efficient, and very cost-effective. And I especially like the super-easy way your site allows me to chase up companies' various name changes, and so remain up-to-date.I Brandli, Coffs Harbour NSW

…out of all the exchanges that I do research for, your particular web site makes finding information so easy. I wish the rest of the world would follow your footsteps. Reuters

Thank you so much for assisting with this. I contacted the registry today and they did confirm there are …… shares [value: $42,000] in my sister’s name. I have put ......... in contact with them so she can update her address and will thereafter be able to claim the dividends [value: $3764] and sell her shares if she chooses. We really appreciate your help, this money will be of huge assistance to ..... What a fantastic service you provide.